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  • #139,141
  • Sep 4, 2009 12:40pm Sep 4, 2009 12:40pm
Quoting OleMiss
yeah it got me. The worst part is, I saw the double bottom from around 9 to 10 yet I STILL decided to go short. I'm hoping it will come back down in the next few days because I'm on the verge of sacrificing my entire account.
I'm short at 4313. BB is penetrated in the upper band on the 1hr-all critical cycles, 5, 15, 1hr moving down. Price lingers at 60-62% on RSI 1hr shows that sell positions are getting filled at 4310-4320-market follows that.

H1 went into overbought originally at 4346. Avg cycle down is 175 points-targets back to 4170.

Hang in there, you should be fine.
  • #139,142
  • Sep 4, 2009 12:41pm Sep 4, 2009 12:41pm
Quoting OleMiss
I'm hoping so. If it falls to the 4280 levels where there is some resistance I can get out with huge losses, but have enough money left to continue trading. I'm just going to ride it out for right now.
what is your margin utilization?
  • #139,143
  • Sep 4, 2009 12:43pm Sep 4, 2009 12:43pm
Quoting ashlee_17
given this strong bull move, it is highly unlikely any trader is going to sell this pair any time soon
yeah i'm flat right now not bold enough to enter a short.
  • #139,144
  • Sep 4, 2009 12:43pm Sep 4, 2009 12:43pm
Quoting ledobedo
good call..took your advice as i m sure u done this for a lot longer than me..anyway closed at 4305 for a modest 13 pip profit
Good job, just learning myself but try to obtaine (on what bases ever) a more or less theory on basis of what you take decisions and being a contrarian is often profitable, I myself try to explore the investors-psychology behind micro PA and draw some trendlines (mostly forks) to give me an idea of level.
Quiet times are often more profitable then times of high volatility as we saw them today, succes.....
Don't be a hero. Don't have an ego. Always question yourself
  • #139,145
  • Sep 4, 2009 12:44pm Sep 4, 2009 12:44pm
Quoting ashlee_17
what is your margin utilization?
44 percent right now. it was down to as low as 19 percent a few minutes ago. I started with 28 bucks in a micro account and over the past 6 weeks or so I've turned it into 200. It's not like it would kill me to lose all of it, but it just sucks because I was being far too greedy/risky and I finally got burned.
  • #139,146
  • Sep 4, 2009 12:47pm Sep 4, 2009 12:47pm
Quoting ashlee_17
given this strong bull move, it is highly unlikely any trader is going to sell this pair any time soon

A bull move during lunch time after a bear move over news (when more traders would be sitting in front of their computer) and when the big dogs were gone on a holiday weekend? It's been rejected twice at the upper decending trendline anyway (numerous times actually).


Stocks and Gold etc. all hitting highs or positive and yet not a new daily high for the eurusd..... something smells a little fishy doesn't it?
  • #139,147
  • Sep 4, 2009 12:48pm Sep 4, 2009 12:48pm
Quoting OleMiss
44 percent right now. it was down to as low as 19 percent a few minutes ago. I started with 28 bucks in a micro account and over the past 6 weeks or so I've turned it into 200. It's not like it would kill me to lose all of it, but it just sucks because I was being far too greedy/risky and I finally got burned.
i hope you get our of this hole soon.... it is always highly recommended not to use more than 5-10% at most.

good luck
  • #139,148
  • Sep 4, 2009 12:49pm Sep 4, 2009 12:49pm
what ever move, it is friday... vol will be low... unexpected move may happen .. prepare for the weekend buddies
  • #139,149
  • Sep 4, 2009 12:49pm Sep 4, 2009 12:49pm
well I played the NFP short with a good sized position & netted ~100 pips, maybe 1/2 of what it coulda been but that's ok. I woke up to see the deal go down then I went back to bed. Now I wake up again to see E/U back above the weekly open. I didn't trade it. Not too many on the board here predicted that move before she broke. Man, if I hadda known I might gone long gold, there was a 1,100 pip move there in 3 hrs...someday maybe I will have the stones.

Now its almost 1400 NY time on a Friday b4 Labor Day and I'd say the show's opretty much over. Hope everyone has a happy & safe weekend. Be plenty o pips for the taking next week.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #139,150
  • Sep 4, 2009 12:51pm Sep 4, 2009 12:51pm
Quoting OleMiss
44 percent right now. it was down to as low as 19 percent a few minutes ago. I started with 28 bucks in a micro account and over the past 6 weeks or so I've turned it into 200. It's not like it would kill me to lose all of it, but it just sucks because I was being far too greedy/risky and I finally got burned.
That's usually how it goes man. It's better to learn it the hard way though. Still waiting patiently btw

Where'd you short?
  • #139,151
  • Sep 4, 2009 12:54pm Sep 4, 2009 12:54pm
Quoting Byrd
That's usually how it goes man. It's better to learn it the hard way though. Still waiting patiently btw

Where'd you short?
shorted at 4222, which happens to be almost the very BOTTOM of this thing. I left for my 11AM class and came back 150 bucks in the hole.
  • #139,152
  • Sep 4, 2009 12:57pm Sep 4, 2009 12:57pm
Quoting Byrd
A bull move during lunch time after a bear move over news (when more traders would be sitting in front of their computer) and when the big dogs were gone on a holiday weekend? It's been rejected twice at the upper decending trendline anyway (numerous times actually).


Stocks and Gold etc. all hitting highs or positive and yet not a new daily high for the eurusd..... something smells a little fishy doesn't it?
Byrd, you are one of the few people on here that makes sense, when everyone is kicking the dollar and speaking of imminent doom, the dollar will fight back..... volume today is a quarter of the avg - Huge Spike on low volume = recipe for disaster. Ladies and Gentlemen, if you are courageous enough to short the dollar next week, I will be courageous enough to take your money.
  • #139,153
  • Sep 4, 2009 1:01pm Sep 4, 2009 1:01pm
Pulling the plug earlier gave me some room to play with...

Dodged a real bullet with AUD, too, so I'll take another stab there, as well.
  • #139,154
  • Sep 4, 2009 1:10pm Sep 4, 2009 1:10pm
3rd test of 4320 here and I don't think it's going to make it. Looks like a triple top.
  • #139,155
  • Sep 4, 2009 1:10pm Sep 4, 2009 1:10pm
Quoting OleMiss
44 percent right now. it was down to as low as 19 percent a few minutes ago. I started with 28 bucks in a micro account and over the past 6 weeks or so I've turned it into 200. It's not like it would kill me to lose all of it, but it just sucks because I was being far too greedy/risky and I finally got burned.

-Demo on an account trading mini lots.
-Save so that you can eventually trade live mini lots..those micro accounts with 400:1 leverage only benefit the broker.
-When you can turn profit on a demo account for 6 months to 1 year go live.

Blowing accounts is part of learning, don't sweat it.Most will not admit it but they have blown more than one at the beginning.
I am generally dollar bull and all my positions are red but i still have some room before stops start getting hit.And if they get hit i can still fight another day because i leverage low 3-5:1
Hopefully after the nfp euphoria is over folks will get back to reality.
Some drink at the fountain of knowledge. Others just gargle !
  • #139,156
  • Sep 4, 2009 1:17pm Sep 4, 2009 1:17pm
K im back broke even on the last lot over all a winner early. Looking at 1.4350 supposedly there's more sell interest there.
"Diversification is an excuse for a lack of talent" ~FXC
  • #139,157
  • Edited 1:32pm Sep 4, 2009 1:18pm | Edited 1:32pm
15ph 4328 i will short with tp at dp..maybe enter at 4331/37

edit selling @ 4331/37 tp dp 4279 plus 2 for spread.
those who can, do. those who cant, talk about those who can
  • #139,158
  • Sep 4, 2009 1:18pm Sep 4, 2009 1:18pm
'riding it out' unless well capitalized is usually not a good idea. this is how a blow out starts to occur. get out and don't fight the trend. be flexible enough to change and be flexible with the market. this takes practice, by doing to form those habits.

be like water!
----- Dragonfly out in the sun you know what I mean, don't you know
  • #139,159
  • Sep 4, 2009 1:19pm Sep 4, 2009 1:19pm
Looking for price to hit the bid at 1.4300 just so I can get a jump on next week. Shorting at 1.4300
"Diversification is an excuse for a lack of talent" ~FXC
  • #139,160
  • Sep 4, 2009 1:19pm Sep 4, 2009 1:19pm
Quoting TIckerShuffl
Pulling the plug earlier gave me some room to play with...

Dodged a real bullet with AUD, too, so I'll take another stab there, as well.

Should breaking above 0.85 worry in au?

I ask because i have held one for a while and is now around 60 in the red and slightly above my normal leverage..the market does what it wants but i would hate to take a hit because of a news event before it goes further down where i believe its destined
Some drink at the fountain of knowledge. Others just gargle !
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